🔴 SK Hynix is trading 3.1% down today as its U.S. listing rally gives way to profit-taking

SK Hynix is trading 3.1% down at KRW 2,113,000 as the momentum from its recent U.S. ADR debut fades into profit-taking.

• The stock had seen a sharp run-up ahead of its Nasdaq listing due to heavy investor demand, despite having dropped roughly 25% in the preceding two weeks.
• Pressure on Korean chipmakers is being exacerbated by a softer global risk appetite, driven by lower U.S. futures and persistent geopolitical tensions in the Middle East.